By 2020, the amount of data generated by every human being every second will be 1.7 megabytes. With this, you can imagine the growth of data, and that is where a Data Scientist comes to the rescue by analyzing and organizing this data to provide business solutions. In this article, we will discuss the global Data Scientist salary and know why ‘Data Scientist’ is the sexiest job title of the 21st century. In fact, a data scientist can expect an average salary of Rs 693,637 (IND) or $91,470 (US) per year.

Before we delve into the details on data scientist salary trends, let us first have a brief outlook on various industry job trends.

Data Scientist Job Trends

According to the Harvard Business Review, a Data Scientist is “a high-ranking professional with the training and curiosity to make discoveries in the world of Big Data”. As data science is a vast domain, data scientists need to have a versatile skill set in their profile.

The below table illustrates the number of jobs in different locations in the US according to Indeed.com.

STATE

NO. OF JOBS

New York, NY

1813

Seattle, WA

1544

San Francisco, CA

1487

Cambridge, MA

936

Boston, MA

733

Data Science career opportunities will only shoot through the roof! As the world is turning towards data for all sorts of decision making, both start-ups and well-established companies like Cisco, Dell, VMware etc. are offering lucrative salaries to Data Scientist.

Data Scientist Salary Trends

According to Payscale.com, below are graphs depicting the average Data Scientist salary for India and US.

Data Scientist Salary (IN)

Data Scientist Salary (US)

According to Forbes, the number of Data Science and Analytics job listings is projected to grow by nearly 364,000 listings by 2020. Also, the productivity benefits that businesses analyzing data is estimated to be around $430 billion by 2020 over their rivals, who are not analyzing. This is quite evident as you might observe from the above illustration.

Data Scientists are responsible for many tasks in a business including analytics, building data products using programming languages like Java, along with developing visualizations and machine learning algorithms in Python or R. Because of this, the average salary package of a data scientist is Rs 693,637 (IND)or $91,470 (US) per year. Additionally, based on your experience and skill-set, companies can offer you up to $130,000 per annum.

Note: This may vary based on the company, geography, and experience.

In fact, companies do not weigh your professional background based on your years of experience if you are skilled in Data Science domain. You can observe that over 15% of data scientists that are being hired in India are fresh graduates. The number is even higher in the US. Refer the below plots to gain more insights:

Source: PayScale

Let me give you a few numbers based on the above factors as well:

Data Scientist Salary Based On Company:

I am listing down the salary offered to a Data Scientist by major companies who are actively hiring Data Scientists.

Company

Salary

Microsoft

Rs 1,500,000/yr

IBM

Rs 1,350,000/yr

Accenture

Rs 1,055,500/yr

Facebook

$135,000/yr

Airbnb

$130,000/yr

Capital One

$106,000/yr

Source: Glassdoor

Data Scientist Salary Based on Experience

Entry level Data Scientist Salary (IND):

Compensation

Salary Range Per Annum

Salary

Rs 297,414 – Rs 1,195,066

Bonus

Rs 2,004 – Rs 161,146

Profit Sharing

Rs 0.00 – Rs 322,976

Total Pay

Rs 306,054 – Rs 1,215,966

Entry level Data Scientist Salary (US):

Compensation

Salary Range Per Annum

Salary

$61,598 – $122,827

Bonus

$1,010 – $15,019

Profit Sharing

$503 – $16,638

Total Pay

$60,894 – $127,894

Mid-level Data Scientist Salary (IND):

Compensation

Salary Range Per Annum

Salary

Rs 590,734 – Rs 2,070,477

Bonus

Rs 1,030 – Rs 792,758

Profit Sharing

Rs 95,000

Total Pay

Rs 595,982 – Rs 2,506,994

Mid-level Data Scientist Salary (US):

Compensation

Salary Range Per Annum

Salary

$74,623 – $140,210

Bonus

$1,973 – $19,998

Profit Sharing

$2,007 – $20,608

Total Pay

$77,215 – $158,409

Experienced Data Scientist Salary (IND):

Compensation

Salary Range Per Annum

Salary

Rs 972,106 – Rs 2,927,745

Bonus

Rs 35,000 – Rs 400,000

Profit Sharing

Rs 25,000

Total Pay

Rs 972,106 – Rs 2,928,194

Experienced Data Scientist Salary (US):

Compensation

Salary Range Per Annum

Salary

$78,424 – $157,653

Bonus

$2,449 – $22,400

Profit Sharing

$11,000

Total Pay

$79,321 – $167,947

Source: PayScale

Well, I believe it is a known fact that for the same work people in different countries get different pay. Let’s see how much the salary of a Data Scientist varies based on the geography.

Data Scientist Salary Based on Geography:

I am listing down the Data Scientist salary for the following major cities:

City

Salary

Gurgaon

Rs 1,200,000/yr

Pune

Rs 736,976/yr

Mumbai

Rs 734,696/yr

Mountain View

$124,882/yr

San Francisco

$117,256/yr

Seattle

$116,898/yr

Source: Payscale

If you are someone looking to get into an interesting career, now would be the right time to up-skill and take advantage of the Data Science career opportunities that come your way.

Edureka has a specially curated Data Science Masters course which will make you proficient in tools and systems used by Data Science Professionals. It includes training on Statistics, Data Science, Python, Apache Spark & Scala, Tensorflow and Tableau. The curriculum has been determined by extensive research on 5000+ job descriptions across the globe.

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